What is Probate?
Tax Assessment for Non-Domiciles
What does it Mean to have a Domicile for Tax Valuation Purposes?
If you are a non-domicile wishing to sell or rent out property in Manchester or anywhere else in the UK, different rules apply to you. Depending on your individual circumstances, you may be exempt from certain taxes; however, you might be liable for tax on any profit you make from the sale of your property to your country of residence. The only way to ascertain which scenario applies to you, how much you may have to pay, and the legal mechanisms for performing any sale or rental of your Manchester property is via a non-domicile tax valuation.
An accurate market valuation is crucial if you are an expatriate seeking to sell your property in Manchester – you must also pay any taxes due on the sale and deal with potential disputes concerning property assessments—disputes that can be horrendously costly if not handled properly. Our panel of RICS registered valuers can help you by providing accurate property assessment services and by clearly guiding you through your tax obligations.
Non-Domicile Tax Valuation Advantages
Non-resident tax valuations mean that you are able to do the following:
- plan and execute your move: find out how the team of independent customer service managers can help you get asking price with a market valuation.
- Minimise your liability of tax: assess what allowances and reliefs you’re due, in order to keep more money.
- Avoid litigation: our panel of RICS registered valuers will provide an accurate valuation of your property and help you estimate how much tax you owe.
- Do not fly in to sell: do not come home to the UK to sell or let your property there unless you really have to.
Do I Owe Taxes on Property I Own in the United Kingdom as a Non-Domiciled Individual?
If you are a non-domiciled individual living in the UK, you weren’t taxed in the past for rental or sale income from your UK properties – however, since the April 2015 budget announcement, things have changed – if you have any UK connections, you may have to pay UK taxes on your worldwide income if you are considered resident for tax purposes. If you shift any income from outside the UK into a UK bank account, for example, that income is potentially taxable in the UK.
When it comes to capital gains taxation, if you’ve turned a profit, your taxable income has piled up, and you’ve claimed the remittance basis in the past, be ready for the tax collector.
Surveys of Commercial Property
If you’re thinking of acquiring, leasing, subletting, disposing of, or altering commercial premises in Manchester, you would be well advised to locate a surveyor skilled in the nuances of commercial building surveying – should you spot a defect in a commercial building you can use that information to negotiate an asking price for the property that’s considerably lower than what the seller originally wanted, or you can talk your way out of a bad deal altogether.
Our Manchester-based team of RICS-compliant commercial building surveyors is equipped to handle matters throughout Manchester.
Contact
Our team prioritizes client care above all else. We look forward to being in touch with you so you can instruct a surveyor in Manchester, London, Bristol, Birmingham or Cardiff. You can reach out to us easily. Just fill out our form, and we’ll get back to you with a free quote for your survey. All our surveyors are qualified as members of the Royal Institution of Chartered Surveyors (RICS) and we are one of the UK’s leading providers of building survey and valuation services:
- Accredited Professionals: Certified by organizations like RICS, CIOB, and RPSA.
- Customized Survey Reports: inspections to meet your specific requirements.
- Local Expertise: Deep understanding and specialized knowledge.
- Expert Guidance: Professional recommendations and support.
The property survey you commission will be carried out by an accredited professional. Your chartered surveyor will be a member of the Royal Institution of Chartered Surveyors (RICS) or the Chartered Institute of Building (CIOB), or will belong to some other industry-standard professional body. Rest assured; you will receive highest quality of professional service for your survey.
